CAN MY WIFES WAGES OR MY CHILDERENS PERSONAL PROPERTY BE SEIZED
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CAN MY WIFES WAGES OR MY CHILDERENS PERSONAL PROPERTY BE SEIZED
I HAVE TO FILE A[ EXEMPTIONS FROM EXECUTION ], FOR A DEBT SEIZURE OF MY PROPERTY JUDGEMENT MADE ON ME AND MY d/b/a. know i have 5 days to file by , and i live in a community property state. I HAVE NO $$$ DO TO A SEVERE ACCIDENT, AND NO PROPERTY, DO TO { ” NO JOKE “} A SEVERE RESIDENTIAL BURGLARY , AND VANDALISM. KNOW OF COURSE I HAVE PROOF OF ALL THIS . BUT WILL THEY SIEZE MY WIFES WAGDES , OR MY CHILDERINS GIFTS OR PROPERTY, ALL SO MY WIFES SISTER LIVES WITH US CAN THEY SIEZE HER PROPERTY. THANK YOU FOR YOUR HELP AND GODBLESS
Asked on July 2, 2009 under Bankruptcy Law, New Mexico
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
In a community property state, they cannot garnish (take a piece out of) your wife's wages, BUT once those wages are earned (and the check cashed or deposited), they are community property--i.e. of each spouse's earned wages belong to the other spouse and are therefore assets that creditors can look to. So your half of what your wife makes, once you makes it, is at risk.
Creditors cannot seize your children's or wife's sister's property unless they can show that the property came from you *and* that it was transferred specifically to keep it away from creditors and cheat them. However, anything your children or sister-in-law bought with money not from you, or any gifts given them some time before your problems, so they clearly were not transfers to keep the property from creditors, should be safe.
However, this only applies to property that is actually theirs--e.g. if you have a bank account for your children's benefit (such as for a wedding, 1st home, or schooling), but you still control the account, it is your property, not theirs.
All states protect certain property from being seized by creditors--enough that the debtor can get buy (such as certain amount of money, some necessary tools of the trade, etc.). Look up what it is (it's usually a fairly long and detailed list, but you can generally find it by web searches) and see what is protected in your case.
Good luck.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
In a community property state, they cannot garnish (take a piece out of) your wife's wages, BUT once those wages are earned (and the check cashed or deposited), they are community property--i.e. of each spouse's earned wages belong to the other spouse and are therefore assets that creditors can look to. So your half of what your wife makes, once you makes it, is at risk.
Creditors cannot seize your children's or wife's sister's property unless they can show that the property came from you *and* that it was transferred specifically to keep it away from creditors and cheat them. However, anything your children or sister-in-law bought with money not from you, or any gifts given them some time before your problems, so they clearly were not transfers to keep the property from creditors, should be safe.
However, this only applies to property that is actually theirs--e.g. if you have a bank account for your children's benefit (such as for a wedding, 1st home, or schooling), but you still control the account, it is your property, not theirs.
All states protect certain property from being seized by creditors--enough that the debtor can get buy (such as certain amount of money, some necessary tools of the trade, etc.). Look up what it is (it's usually a fairly long and detailed list, but you can generally find it by web searches) and see what is protected in your case.
Good luck.
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